Lazard Asset Management LLC Has $211.87 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lazard Asset Management LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6,487.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 526,119 shares of the pharmaceutical company's stock after acquiring an additional 518,132 shares during the quarter. Lazard Asset Management LLC owned about 0.20% of Vertex Pharmaceuticals worth $211,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $30,000. Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $37,000. Truvestments Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the period. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded up $13.22 during mid-day trading on Thursday, reaching $434.38. 1,935,271 shares of the company traded hands, compared to its average volume of 1,408,770. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a fifty day simple moving average of $485.28 and a 200-day simple moving average of $465.02. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market cap of $111.55 billion, a PE ratio of -197.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the company posted $4.76 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,005 shares of company stock worth $1,978,465. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VRTX shares. Morgan Stanley raised their price objective on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Leerink Partners restated a "market perform" rating and issued a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Barclays upped their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $515.04.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.